In the night on Monday, Cyprus’s government agreed on a haircut of up to 40% on deposits exceeding €100,000 and bondholders, while protecting savings below the threshold of €100,000 (which are insured under the Deposit Protection Scheme, DPS) in order to restructure Cyprus’s ailing two big banks. Earlier plans which envisaged a haircut of at […]

(Picture taken from Sucker Punch Cinema) In response to German finance minister Peer Steinbrück’s plans to separate commercial banking from other businesses, Mr Achleitner recently argued against splitting up universal banks like Deutsche Bank, on whose board he sits, by claiming that all experts know that broadly diversified companies like universal banks pose less risk than […]

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